Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
ALAN GREENSPANNeed to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
More Alan Greenspan Quotes
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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
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If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
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And the percentage changes in wage rates would be the same for all job grades.
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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
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It keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
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If I seem unduly clear to you, you must have misunderstood what I said.
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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Rules cannot take the place of character.
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The worst have failed; investors no longer fund them and are not likely to in the future.
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In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
ALAN GREENSPAN